Vacation Rental Market size was USD 86.6 Billion in 2022 and is anticipated to reach USD 309.0 Billion in 2032, growing at a rate of 13.4% from 2023 to 2032.
A furnished apartment, home, or professionally managed resort-condominium complex is rented out to visitors on a short basis as an alternative to a hotel as a holiday rental.
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Key Trends
The vacation rental market has seen a number of key trends in recent years. One of the most notable is the rise of the sharing economy, which has led to a significant increase in the number of people using vacation rental platforms like Airbnb and HomeAway. This has in turn created a more competitive market, with vacation rental companies offering a wider range of services and amenities to guests.
Another key trend is the increasing use of technology by vacation rental companies. This has ranged from the use of online booking platforms to the development of mobile apps that allow guests to book and manage their stay. Vacation rental companies are also using data analytics to better understand customer preferences and to target marketing efforts.
Key Drivers
The vacation rental market has exploded in recent years due in large part to the sharing economy. The rise of platforms like Airbnb and HomeAway have made it easier than ever for people to list their properties and find renters. At the same time, these platforms have made it easier for travelers to find vacation rentals that fit their budget and preferences.
The vacation rental market is also being driven by a desire for more unique and authentic travel experiences. Travelers are increasingly interested in staying in local neighborhoods and getting a taste of the local culture. Vacation rentals often offer more space and amenities than hotel rooms, making them appealing to families and groups.
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Market Segments
By Accommodation Type
- Home
- Apartments
- Resort/Condominium
- Others
By Booking Mode
- Online
- Offline
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Key Players
- Airbnb
- HomeAway
- VRBO
- Expedia
- Booking.com
- FlipKey
- HouseTrip
- Onefinestay
- Luxury Retreats
- Villas.com
- Casamundo
- TripAdvisor Vacation Rentals
- Owners Direct
- Holiday Lettings
- HomeToGo
- Wimdu
- Feels Like Home
- 9flats
- Yescapa
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The Vacation Rental Market